Ministry of Environment, Forest and Climate Change
India’s circular economy to generate a market value of over $2 trillion and create close to 10 million jobs by 2050 – Union Minister Shri Bhupender Yadav
Memorandum of Understanding (MoU) was signed between the Council of Scientific and Industrial Research (CSIR) and the Ministry of Housing and Urban Affairs (MoHUA)
Delegates visits Hawa Mahal, City Palace, Albert Hall, and Patrika Gate
Posted On:
04 MAR 2025 6:39PM by PIB Delhi
India’s circular economy could generate a market value of over $2 trillion and create close to 10 million jobs by 2050. Expressing this view, while speaking at the 12th Regional 3R and Circular Economy Forum in Asia and the Pacific, Union Minister for Environment, Forest & Climate Change, Shri Bhupender Yadav said, the ‘circular economy’ may be about to drive one of the biggest transformations in business since the Industrial Revolution 250 years ago. Through a radical departure from the traditional 'take, make, waste' production and consumption models, the circular economy could provide a potential $4.5 trillion in additional economic output by 2030 world over.
Shri Yadav also informed the forum about India’s candidacy for organising the World Circular Economy Forum in the year 2026. Every year, World Circular Economy Forum is organised and in this year, 2025 it is being organized in Sao Paulo, Brazil. India has expressed the willingness to host World Circular Economy Forum 2026.
Emphasising on the steps taken, the Minister said, India remains committed to addressing plastic waste challenges and their associated ecological impacts. The Plastic Waste Management Rules (2016) have led to significant measures targeting municipal, industrial, residential, and commercial sectors. India has banned certain categories of single-use plastics through notification in 2022. In alignment with the Mission 'LiFE' initiative, MoEFCC has notified the Eco-Mark Rules to encourage demand for environmentally friendly products while promoting energy efficiency and circular economy principles.
He further said, Circular Economy Action Plans for 10 waste categories have been finalized, for which regulatory and implementation framework is under progress. India has already notified various waste management and extended producer responsibility rules in certain sectors, such as the Plastic Waste Management Rules, e-Waste Management Rules, Construction and Demolition Waste Management Rules, and Metals Recycling Policy, among others.
Secretary, Ministry of Housing and Urban Affairs, Shri Srinivas Kathikala, and Chief Secretary, Government of Rajasthan, Shri Sudhansh Pant jointly chaired a significant session today, focusing on advancing waste management and circular economy initiatives. The session saw the launch of several key reports, best practices and the signing of important agreements aimed at strengthening India’s waste management ecosystem.
Launch of SBM Waste to Wealth PMS Portal
A major highlight of the session was the launch of the SBM Waste to Wealth PMS Portal, an innovative online platform developed under the Swachh Bharat Mission (SBM). The portal is designed to enhance project monitoring, streamline data management, and facilitate resource sharing, thereby supporting the mission’s broader objective of transforming waste into valuable resources. This initiative aligns with the government’s commitment to sustainable urban development and effective solid waste management.
Release of IFC Document Reference Guide
The session also marked the release of the IFC Document Reference Guide: Business Models and Economic Assistance for Municipal Solid Waste (MSW) Projects. This guide provides comprehensive insights into various business models for MSW processing, including waste-to-electricity, biomethanation, and bioremediation. The document serves as a crucial resource for municipalities and private players looking to implement effective and economically viable waste management projects.
MoU Between CSIR and MoHUA
In a significant step toward fostering scientific collaboration in waste management, a Memorandum of Understanding (MoU) was signed between the Council of Scientific and Industrial Research (CSIR) and the Ministry of Housing and Urban Affairs (MoHUA). This partnership will facilitate research-driven solutions and innovative technologies to enhance urban waste management practices across India.
Release of ‘India’s Circular Sutra’
The event also saw the release of ‘India’s Circular Sutra: A Compendium of Best Practices in 3R & Circular Economy’. This compendium documents successful case studies and innovative approaches in the Reduce, Reuse, and Recycle (3R) framework, providing valuable insights for urban local bodies and stakeholders looking to implement circular economy solutions.
These initiatives mark a significant step forward in India’s efforts to promote sustainable waste management, encourage innovation, and drive the transition toward a circular economy.
CEEW Report on Solid Waste Management in Million-Plus Cities
The Council on Energy, Environment, and Water (CEEW) presented its latest study, which offers a detailed outlook on solid waste management (SWM) practices in cities with populations exceeding one million. The report highlights sustainable waste management strategies, circular economy principles, and decentralized solutions that can be tailored to meet the unique challenges of India’s rapidly urbanizing regions.
Technical and Heritage Visit of Delegates
The delegates undertook a technical site visit to key waste management and sanitation facilities in Jaipur, including the Waste to Energy Plant and Sanitary Landfill Site at Langariyawas and the Dehlawas Sewage Treatment Plant. These visits provided firsthand insights into innovative waste processing techniques, energy recovery from waste, and efficient sewage treatment mechanisms.
In addition to the technical visits, the delegates also explored Jaipur’s rich cultural heritage, visiting iconic landmarks such as Hawa Mahal, City Palace, Albert Hall, and Patrika Gate. These heritage visits offered a glimpse into the city’s architectural grandeur and historical significance, providing a holistic experience that blended urban infrastructure advancements with Rajasthan’s vibrant cultural legacy.
(Release ID: 2108165)
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